More than $13bn (€14.5bn) was spent on 380 internet mergers and acquisitions in the first quarter of the year, according to a report from Webmergers.com, the US internet research firm.
The report, which only covers what its describes as "substantial" internet companies, said that the number of internet companies closing was markedly up compared with the first quarter of 2000. For the first quarter of this year at least 147 substantial internet outfits closed down or declared bankruptcy. That figure was just five for the same period last year.
